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are as different as germany and greece. what is it that keeps the united states together? you had a great depression here in the 1930's. things were awful. and yet, i do not believe there were any political movements to get rid of the deficit states from the united states, like there are in europe and portugal and spain and everywhere else that happens to be in deficit. the reason is, the federal- state, especially after 1929 plays the role of the regulator of surplus and deficit recycling around the land. let me give you a simple example. we are in seattle. boeing is sponsoring the lectures. when boeing goes to washington to give a contract for the next generation jet or whatever, they may get it. they do get it. but there are some things attached. like for instance, we want a factory that builds the wings are the engines in tennessee or missouri or arizona. in the deficit regions. this is not philanthropy. this is an act of recycling surplus so the surpluses of the surplus state can continue to be created, produced. you may recall that in the 1920s, internationally, we had a gold stand
and finance merging, finance taking over industry, which was what pretty well happened in germany. this was never the case. the united states had a very, very broad financial ostentation . the decentered financial system and one in which financial markets therefore broaden the but not linked directly to particular industries. in their function became that of developing financial instruments which will allow finance to go into the market as individual firms and issue commercial paper to raise their money rather than getting it to wrigley from lynx to particular financiers. that led eventually to the world emulating the rest of the markets. the german banks which were so closely integrated into their industry. deutsche bank is not in distinguishable from goldman. and it explicitly said is a began to shift toward becoming an investment bank along the lines of wall street's, we would be engaging conflict of interest if we are writing ipos for firms that now we are deeply integrated with. they end up owning almost all the mortgages in black cleveland at the time of the 2000 crash. deut
miles inside time in his east germany but was still a free city protected by the western powers. in november 1958, khrushchev delivered an ultimatum. the west had to be out of berlin and six months, or else. this is a crisis, the greatest crisis of the cold war up to that point. the press, congress and much of the eisenhower administration this men were. we need to show resolve, it was said, to beef up our troop strength and get ready to divide the red army. meeting privately with his advisers and congressional leaders, president eisenhower said we aren't going to do that. indeed he said we're cutting our forces in germany by 50,000. is advisors and accounting were bewildered. cut our troop strength? won't that show went to this -- won't that show weakness? i was all alone. he was heavily criticized in the press. but he is seen utterly unfazed. i've now had a great capacity to take responsibility. the amazing that famous photograph taken of ike on the eve of d-day, june 1944, general eisenhower as a supreme allied commander wearing his uniform and talking to a group of paratroop
and the flash point was berlin, the former german capital, 100 miles inside east communism germany, but still a free city protected by the western powers. in 1958, there was an ultimatum. the west had to be out of berlin in six months or else. this was a crisis, the gravest crisis of the cold war up to that point. the prez -- the press, congress, and the administration thought if meant war. we needed resolve to beef up the troops' strength and defy the red army. meeting privately with the leaders, president eisenhower said we're not going to do that. indeed, he said, we're cutting forces in germany by 50,000 men. his advisers and the congressmen bewildered. cut the troop strength? won't that show weakness? ike was all alone and heavily criticized in the press. he seemed utterly unphased. eisenhower had a great capacity to take responsibility. he may have seen that famous photograph taken of ike on the eve of d-day in june 1944. general eisenhower, the supreme allied commander, wearing normal uniform, talking to a group of paratroopers, geared up, faces blackened, ready to jump mind german lin
? >> chuck hagel was not to go to vietnam. he had orders to go to germany. he was at fort dix. he said i want to go to vietnam. in may and talk to the chaplain and psychologist, and after two weeks, he went to vietnam. he fought for his country, unlike his critics. he has bled for his country, unlike his critics. he understand war, unlike his critics. he did not have other priorities, like richard cheney, and never said it was going to be a cakewalk. he is prepared, ready, and bill cohen put it best. he has fought and bled for this country. he knows the subject matter. ask jim jones and other national security advisers. >> iraq and iran, that is what upsets people about shock hegel and some of the things he had to say about them. >> he was a supporter of the war in iraq. he supported the war in afghanistan. he voted in favor. it is an odd dove. all the critics are now decrying that he supported these wars. now when it came time to redeem what is it pay losing war in iraq with the troop surge, he not only opposed it, he said it would be the worst disaster since the vietnam war, but it was a su
was not to go to vietnam. he had orders to go to germany. he was at fort dix, new jersey and said i wanted to go to vietnam. in may and talk to the chaplain and psychologist and after two weeks, went to vietnam. he has fought for his country, unlike his critics. he has but pours countries, unlike his critics. he understands war, unlike his critics. he does not have other priorities, as richard cheney did at the same time in vietnam. he never said it was going to be a cakewalk. he is prepared, ready, and bill, and put it best. he has fought for his country and but for his country. he knows the subject matter. ask jim jones and other national security advisers. >> two words, iraq and have -- iran. that is what upsets people about chuck a calamity had to say about those two. >> he supported the war in iraq, voted in favor and supported the war in afghanistan and is an odd dove that supported the two wars and all the critics are now decrying. he also, when it came time to redeem what was a losing war in iraq with the troop surge, he not only opposed it, he said it would be the worst disaster since t
to manufacturing, and we even have a productivity advantage over countries like japan and germany, countries thought of as manufacturing leaders. i wondered, and i started asking myself, well, what is it that gives us this productivity advantage? what is it that gives american manufacturers this ability to compete? i wanted to go and talk to rail manufacturers because one of the things that when you're in washington and in bureaucracies, you know, you have a lot of people pontificating about the state of american manufacturing and what we need to do without actually engaging and talking to manufacturers, and, particularly, not talking to small and medium-sized manufacturers. the large manufacturers, the ceos, are often represented on policy think tanks, but the reality is almost half of the manufacturing jobs are with small and medium sized businesses. i decided that i wanted to talk to some of these small and medium sized businesses and figure out what it was that was givenning them a comparative advantage, and one of the arguments i made in the book is our entrepreneurial culture that allo
" and "homeland" are popular not just in germany and u.k. but in jordan and turkey. "24" is a huge hit in iran. it's beamed in illegally by -- you're not getting paid for it? >> no. but i do think. >> but it's smuggled in a lot. the actor is persian and has a lot of connections in iran and he's been tracking "homeland" in iran. >> it is stuningly popular but i've read a few criticisms of the show and to the extent that we make piss people off on every side of the aisle and are embraced by them too is a good thing. one thing i did learn is that as an export, as a public face, we do have some responsibility, some influence on -- this is an american export and we are good at this. we make really good movies and television shows. it is what the world sees of us. and there was a book by a researcher at the gallop organization and they polled people in egypt what is your feeling about americans. i don't like america but i like americans. and a very small percentage had never met an american. and they said how dow know and the answer was "friends". >> based on that i like america too. >> politics dem nie
times for medical evacuation to a field hospital, getting them to germany to the hospital at lamb stool and bringing them on to the united states as soon as they have stabilized has led to .. many of these young men, and they are mostly young men, a few women, but mostly young men, surviving wounds that would have surely killed them in any prior war, even ten or fifteen years ago, and i remember the first time i but at walter reed and i went, met with the first quadruple amputee, he lost both legs and both arms, and all he wanted was to drive a car again. and i saw him again, maybe six months later, with pro they tick arms and legs, prosthetic arms and legs, it is amazing what science and medicine is doing for these young people .. but nobody should estimate, underestimate the magnitude of the rehabilitation challenge and the courage that it takes, day in and day out to try and come back from these terrible wounds and that is where there is not enough we can do for these kids. >> rose: are we over stretched? >> i don't think so. i think we were over stretched at the end of 2006 .. and p
and basketball teams. they often use sporting venues to fight. >>> germany. eight people died including four children when two small planes collided mid air. police say the crash happened as darkness fell over a town about an hour north of frankfurt. the two aircraft crashed into fields about 1200 feet apart. no word on the cause. >>> serbia. at least two people died as heavy snowfall and below freezing temperatures hit the north. authorities say the harsh conditions also snarled traffic for some 17 hours. local media report crews rescued more than 600 people from their cars. similar weather slammed neighboring countries in the balkans. >>> china. a 16-year-old from japan became the youngest winner of the world snowboard championships air and style event in beijing. the teee of the sport's most difficult tricks to clinch the title. he also set a new record for the longest time in the air. that's a wrap on this fox around the world in 80 seconds. >>> software giant john mcafee. is he crazy? is he a pathological liar? is he a murder or maybe all of them? the software mogul said he's on the run
surpluses to germany and japan. an astonishing number. 70% of the profits in the country were recycled into europe and japan. the marshall plan is a very small target. i will not bore you with details. when they go to washington, it is not an act of philanthropic on the pentagon -- and at the plant for be on the pentagon fell apart -- it is not a philanthropic act on the pentagon's part. the united states federal government -- unless europe is dollar rise, unless they do not have dollars to spend purchasing the net exports of those who have surpluses, then they will stop having surplus. this is the surplus recycling mechanism. thus, we have the 20 years of the golden age. a period of immense stability very low inflation. universal growth. we had other problems. the lease from the macroeconomic point of view, it was a golden age. why is that? because the global surplus of recycling mechanism was sustained. why? because the united states stopped having a surplus by the end of the 1960's. how can you recycle surplus if you cannot have it. well, paul volcker -- been named may ring a bell.
at germany. a lot of -- >> hong kong, germany, you name it. >> germany up 29% year-to-date. that has a lot to do with the ucb and the eurozone. this is a relative gain. lost in this conversation for a lot of u.s. investors, they are u.s. investors. they can't really invest globally to the same degree that we talk about, we say germany is up 29%, for a lot of investors that's out of their reach. >> if we didn't have the cliff today, we would have best trades of the year, jamie dimon buying jpmorgan when the whale hit. things looked really dark. some of the best trades happened obviously when it looked like the stocks were in for real trouble. >> look at the greek stock market. look at greek debt. i think it was third point that established a prominent position in greek debt and saw x number of returns thereafter. >> draw the lessons to today. as we teeter on the cliff, what would be the fear trade that people are shunning right now but may turn out to be the best trade looking back? >> i think it's something we already mentioned, and that's the defense sector. >> the sequestration sector is
in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. but they have to use special care in keeping the denture clean. dentures are very different to real teeth. they're about 10 times softer and may have surface pores where bacteria can multiply. polident is designed to clean dentures daily. its unique micro-clean formula kills 99.9% of odor causing bacteria and helps dissolve stains, cleaning in a better way than brushing with toothpaste. that's why i recommend using polident. [ male announcer ] polident. cleaner, fresher, brighter every day. >>> our second story "outfront," a stern warning to syria. the use of chemical weapons is unacceptable. nato says the use of these weapons of mass destruction will be met with an immediate reaction from
. the divers say they will remove the tree after the new year so they won't hurt the environment. germany. >> more than 22,000 fans singing christmas carols at a soccer stadium in berlin. officials turned off the lights and the people all held candles for 90 minutes, the length of a soccer match. the mass caroling began 9 years ago as a small season ending event. now it's grown into an annual holiday celebration. that's a wrap on this fox trip around the world in 80 seconds. are you hoping santa will bring you a new cell phone to replace your clunker? i have got one of those. you might be just better off fixing the one you got. do it yourself repairs are a hot trend this holiday season. we will bring you up to speed on that. that's ahead. one lucky dog gave his owners the perfect president -- present for the holiday. home after hundreds of miles logged on the road. his story coming up. ♪ ♪ this holiday, share everything. share "not even close." share "you owe me..." share "just right." the share everything plan. shareable data across 10 devices with unlimited talk and text. hurry in f
aircraft. but this move part of a nato response. also supplied by germany and holland whose parliament last week approved their contributions. the u.s., though, of course, putting a number of people on the ground. many observers saying that now nato has physical troops and presence in the area that it risks somehow being dragged into this particular conflict. everybody is stressing these are purely there to defend turkey, a staunch nato member. john? >> they still come as the u.s. offered diplomatic recognition to the rebels in syria and with 400 u.s. troops there, it does give the u.s. some skin in this game. >> reporter: absolutely. i don't think the troops will be involved. skin in the game, certainly. the obama administration though many say caught between two different sides here. at the same time, the day before they gave some kind of lower level diplomatic recognition to the syrian government. the day before that they were a terror group, one of the more hard line parts of the rebel front responsible for many victories, considered islamic hard-liners. to many degrees they're heroes b
protect their own ground forces? is there something about germany and italy and france and spain and england and japan that renders them genetically incapable of having their own air forces? i know we were told, well, we have to stay in iraq and afghanistan because they don't have any air force. well, neither do the people attacking them. the next thing we are told is, well, we need to protect the u.s. from a nuclear attack. i agree. we have a nuclear capacity that far exceeds any potential combination of enemies. we had during the height of the cold war the triad. we could destroy the soviet union and they had a capacity to go after us by missiles, submarines or the strategic air command. i have a proposal, sometimes i'm kidding, this time i'm not. can we not go to the pentagon and say, you know what? now that there is no more soviet union, there is a much weaker russia, and i agree, russia won a war against georgia. they won a war against the country of georgia. i think the way we have armed the state of georgia, i'm not sure what the outcome would be if that was the war. but r
for a national registry of jewish citizens. the idea shocked many who say it is like nazi germany. 550,000 hungary -- hungary jews were murdered. police are trying to get supplies to people stranded in snow with many drivers fearing they will run out of gas and their only source of heat. >> a bold move by a college do fight obesity. a school in georgia making the tough decision slashing their $1 million sports budget and applying that money to wellness on campus. and now, like to atlanta with more on that story. elizabeth? >> you are right, this is the last year that some in college will part with division three athletics program, a tough call for many of the athletes. they say they support the decision according to health experts, four out of five african-american women are considered obese, the highest rate of any group in the united states. we spoke with a senior hotels us being in a healthy weight and a healthy mindset gives peers an advantage in the workplace. listen. >> especially at this age because life is just going. when you graduate college there is a big word out there and
things are made in germany. probably made in the u.s. china has been a major gap in this whole system. on sanctions and north korea could face tougher action from china might constrict some of its ability to buy things that it absolutely needs for its nuclear programs. jon: you think it is likely american-made technology is helping north korea with its missile program? >> could be. i don't know the missile program nearly as well as the nuclear but what north korea does, it uses china a sense as a transshipment point because many companies, high-tech companies from america, from europe, have subsidiaries in china, selling to chinese industries and trading companies. north korea works that system very well to end up with those kinds of high-tech items from outside china. and so while i can't speak specifically on the missile program i certainly can on the nuclear and yes, indeed, north korea buys european high-tech equipment and likely u.s. equipment. so it's a problem. china has been made aware of the problem but they haven't done enough and, i think this missile launch could be a furt
the next few weeks into early next year. we know that germany and net they are netherlands are onset to deploy their troops as well. this is an incredible volatile area. remember, this all started because two months ago there were exchanges of fire between the turkish and syrian fire often by syrian military. they asked for help from nato and now they got what they asked for. we're hearing from secretary of defense leon panetta that there is a plan for the youu.s. to ge involved if chemical weapons are used. it's not clear if the patriots will be involved in that. they are designed to take out missiles. we're seeing an he escalation n and contributing military means to the area. certainly tensions are even higher on that border. don? >> nick paton walsh, thank you. >>> president barack obama speaking out about recreational marijuana use. in an interview with barbara walters, the president said the u.s. government has, quote, bigger fish to fry than going after users. >> you know, the federal government has a lot to do when it comes to criminal prosecutions. it does not make sense fro
the promise of the strategy, which has been used in germany, of the national manufacturing innovation hubs. that is something we will to promote in a second term and expand further. >> over here. >> thank you. every child matters. i applaud you for your comments about the need not to have less having money for children versus money for research and other vital needs in the domestic discretionary budget. the question is, where do we find more revenue? and have you considered taxes on stock transfers and stock transactions or other kinds of innovative -- carbon taxes, other kinds of approaches where we can find new revenue that it would be possible for us to have amongst ourselves for important resources? >> it is going to shock you to know that i'm not here to make news on a new revenues. [laughter] we are busy fighting right now to make sure that we have a budget agreement that is very balanced, and part of that balance is having enough high income revenues together with smart entitlement savings. that is the balance that people talk about the most. the other balances to make sure that you
. germany's economic position is arguably deteriorating but still schauble there is relatively optimistic that the crisis is over. in the meantime what is also happening is this money is beginning to flow into, from the public safety net to support the banks so you have the recapitalization of the banks but that isn't of course good news for everybody in the case of the ipo from last year you have 53,000 small shareholders there effectively having their positions in the debt smashed against the whole. they've been selling out again today to try and retrieve what they can because it is in the negative equity and arguably they'll get nothing as we go through the motions further down the line. it lost another 25% of what is left of the market capitalization today. a number of the other spanish banks are also in negative territory and some of the spanish big industrials are also down today. under performance on madrid. just got to mention where we are on the greek banks. they are now going through a position where the central bank is saying we think they need 27, 28 billion euros. the questio
in germany had trained dogs on the street. there were no robberies or assaults because people know that the dog would get them. the security is not working. children and adults need to be protected. it would be safer to have trained dogs in every school and the malls and big theater complexes. host: we got your points. john fund. guest: i am not sure it would be less expensive to have a handle and a dog. i grew up much of my life in europe. i understand they have strict gun control laws there. the top three in terms of fatalities until friday were in britain and germany. those were often used with assault weapons. people can get access to these weapons. if you are a criminal or criminally insane, you do not care about the law. host: this comes from twitter. there were some graphics this morning from "the washington post." the ban on assault weapons includes massachusetts, maryland, new york, and hawaii. 30 states require -- every port of the mental health of buyers -- require a report of the mental health of buyers. what do you make of the mental health requirements and awaiting pe
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of the will. major nato players such as germany did not play. what really turned out to be the case is absent the united states were anything but a very small, almost counterinsurgency operations in places like sierra leone ore and liberia, nato cannot really deploy and operate. it does not have the capabilities. it does not have the specialized systems like air refueling tankers and all that. the u.s. at to provide most of the curls -- cruise missiles and after a few is most of the air to ground bonds. and so even if you were to say that we're going to renegotiate the treaty to it's going to be a decade, probably to before nato countries absent the u.s. at the capabilities to really control things along the mediterranean. nothing earlier. >> host: let me give you a twitter. deadlines are often a factor in going over budget and-unforeseen consequences. >> there are all kinds of negative unforeseen consequences. the trouble is in the original pricing the unforeseen is not foreseen. because what we have none of the past seven, eight years is the program is over budget. rare exceptions. every pr
in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses social security are just numbers thinkin a budget.d... well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about the future... of these programs into a last minute budget deal... we'll all pay the price. aarp is fighting to protect seniors with responsible... solutions that strengthen medicare and... social security for generations to come. we can do better than a last minute deal... that would hurt all of us. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cl
with a pulitzer prize winner on life in soviet east germany, poland, and hungary. from her historical narrative, send a night at 8:00 on c-span. >> "washington journal" continues. host: for the rest of the program, we are going to be talking more about the shooting yesterday in newtown, connecticut at the sandy hook elementary school. 27 victims including 20 children. we have broken down the phone numbers in terms of regions of the country. we have a special line for educators and administrators. if you work in education, give us a call and give us some of your thoughts as to what happened yesterday at the sandy hook elementary school in newtown, connecticut. we've got hte map up there which whos connecticut, hartford the capital. newtown in the southwest corner near the new york border. we will keep putting the numbers up on your screen. we want to show you the front page of the local newspaper. 20 children, six adults fatally shot. adam lanza was identified as the gunman. president obama addresses a grief-stricken nation. "our hearts are broken." showing a picture that has been on a lot of di
since world war ii? i mean, i don't think germany's going to invade france any time soon or russia's going to invade poland. but yet we have a huge amount of deployed american forces in europe. i mean, maybe we need to have a discussion about whether or not we need that. whether or not we can afford that expense. whether or not that does anything to enhance our security. again, i want a military that is the best in the world, i want it to continue to be that way, i want it to be second to none. i want to make sure we have all that we need but i don't want to be investing in things we don't need. and when the joint chiefs of staff and when the secretary of defense and all the experts tell us that they don't need something and we here appropriate money to keep something going that is unnecessary, that is unwanted, at the same time while you're trying to cut the benefits of some poor old lady, her social security, there's something wrong with this equation. we got to start thinking about the security of people here in this country as well. and what we're going to do right after this i
installed bulbs on the new year's eve ball in times square. and in germany, an animal keeper holds a tomato frog in her hand. hot shots, pictures coming in from around the world. >>> the military puts tremendous time and resources into designing camouflage, and it could soon make them disappear. here's cnn's pentagon correspondent, chris lawrence. >> reporter: camouflage can be the difference between a soldier getting shot and going home. so a lot's riding on the next generation designed to outfit troops. it's only been eight years since the army spent $5 billion on m camo that critics say didn't fool anyone. soldiers complained to the paint where the army abandoned their one size fits all universal pattern. so they were looking for camouflage that they could use everywhere? >> correct. and it didn't work anywhere. >> reporter: guy cramer is one of the designers competing to win the army's next multi-million dollar contract. this summer, he showed us the science behind every shape, size, and shade of these pixels. >> you now have your camouflage. so we're trying to trick the brainseeing t
our top ten stories of 2012 next. >>> you know me as carl. hey, mom. stationed in germany. shoutout to all my family in trentth, new jers trenton, new jersey. i miss you all, i love you all. if you missed it, it's your fault. i did my part. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. >>> here is the mug shot after crapo's arrest in a washington, d.c. suburb. he's a mormon and supposedly doesn't drink alcohol, but it turns out crapo, in fact, does drink alcohol given the arr
. in germany, an animal keeper holds a tomato frog in her hand. each year the zoo in hamburg takes an inventory of all the animals. "cnn newsroom" continues right now with don lemon. hi, don. >>> hi, suzanne. thank you very much. i'm don lemon. brooke is off today. the eyes of the world are focusing now on the white house. within the next hour, congressional leaders will begin to arrive for what is likely to be a very tense meeting with the president. this is perhaps the final effort to avert the tax increase that is expected to cost the average family several thousand dollars a year. four days remain to reach an agreement, get it passed by the house and the senate and signed into law by the president. we're talking a long shot here. now, want to show you the players. president, there in the middle, democrats nancy pelosi and harry reid. republicans mitch mcconnell and john boehner. those four members of congress are expected to make the drive from the capital, which you see on the right, down pennsylvania avenue, to the white house, there on the left. and we expect them to enter through a side
a sense of europe, perhaps real countries, germany, finland, each with different points of view, but also all with the common view that they have to find a way to work out their differences to save the euro. i believe they will. you can see it, feel it, -- listen to the words. they will find a way to get it done. these countries are also looking to us for leadership. europe chose the danger of uncertainty. we all know that. we all know the uncertainty that exists in this country. uncertainty leaves businesses sitting on the sidelines. it drags down investment and economy into the capital. companies will postpone decisions the next quarter. maybe they will not hire, not do what they would like to do. we cannot leave people wondering what is coming down the pike every few months. confidence matters. it especially matters in our economy. once we resolve the cliff, we need long-term fiscal reduction so that businesses can climb to the future. to get families and businesses certainty, we must agree in the next few weeks on specific spending cuts and specific revenue increases that reduce the d
[ male announcer ] a european-inspired suspension, but it's not from germany. a powerful, fuel-efficient engine, but it's not from japan. ♪ it's a car like no other... from a place like no other. introducing the all-new 2013 chevrolet malibu, our greatest malibu ever. ♪ >>> producer john tower, we have our replacements for fiscal cliff. please only read the clean ones. >> jason writes, money boo boo. calvin, pricey precipice. i like this one. allen, monetary manhole. >> monetary manhole. we're getting stripper names and other categories we don't want to get into. great show, everyone. "morning joe" starts right now. > ♪ and i'm free ♪ free falling >>> you know, it's a special time of the year. we've been looking forward to it for months now. and everywhere you go, you can see the twinkle in little children's eyes because they know that in just a few short weeks, ♪ the fiscal cliff is coming to town ♪ merry cliffmas. and with a dramatic name like fiscal cliff, it's got to be exciting. jim? >> the president's asking for $1.6 trillion in revenue. >> $600 billion in tax
in germany of these national manufacturing innovation hubs. and i think that is something that we're going to look to promote in a second term and expand further. >> over here. >> thank you. paul freedman with every child matters. we're very -- i applaud you for your comments about the need not to have us fighting against -- money for children versus money for research and other vital needs domestic discretionary budget. so the question is where do we find more revenue and have you considered taxes on stock transfers and transactions or other kind of innovative approaches where we can find new revenue that will be possible for us to not fight amongst ourselves for important ry sources? >> well, it's going to shock you and many of you to know that i am not here to make news on new revenue. we are busy fighting right now to make sure that we have a budget agreement that is very balanced. and i think part of that balance is obviously having enough high income revenues together with smart entitlement savings. that's the type of balance people talk about the most. but the other type of balance
.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. fwl >> coming up, still no deal to avoid the fiscal cliff. senators ron johnson and bob corker, if a bargain is still possible organization if the fiscal cliff is now inevitable? plus a "squawk" market master is going to tell us how equities will react. mohamed el-erian is going to be coming on to weigh in. and 2012 marked a real turnaround in housing. major mortgage settlement gave thousands of borrowers a break on debt and a bottom in home prices pushed would-be buyers off the fence. here's diana olick with the outlook for real estate in 2013. >> the housing market will continue on the road to recovery, barring any unforeseen economic disasters. that's not a prediction, th
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